Cash Cow Farmer

Tag: Grain Marketing

  • 7 Strategies to Farm Like Famed Investor John Templeton

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     John Templeton is one of the most famed investors of all time.
     This is a guy who in 1939 bought $100 worth of all stocks traded under $1, and by 1943 he had four times his money. He’s up there with the greats.
     His strategies, and the way he built his wealth, were so brilliant that I think there are a lot of key values and structures that we could apply to our farming operation to help us be more consistent, profitable, and smart.
     For starters, his key values were hard work, punctuality, and commitment, which are obviously useful in any business context.
     Beyond that, here are 7 strategies you can use to farm like John Templeton.

     1) Buy depressed assets
     This strategy is exactly what Templeton did in the example of 1939 above. The stocks he bought under $1 were depressed assets.
     Farming is depressed right now, too. This year may be the best time to buy farm assets. At the end of the year, there are probably going to be some auctions that are worth going to, especially if you’ve got equipment that needs upgrading.
     You can see the fear in agriculture right now: people are concerned about commodity prices, and there’s going to be a lot of bankruptcy with people who are overextended and a lot of auctions where there just aren’t buyers. If you’re wanting to buy a little equipment or land, and you’re not yourself overextended, this is a great opportunity.

     2) Avoid the noise
     After living in New York City, John Templeton ran his investment fund from his home in the Bahamas, far away from the noise of Wall Street. He would spend hours on the beach every day reading through investment reports.
     The further he got away from the noise and the day-to-day emotions in the thick of things, the more successful he became. His investment performance just about quintupled when he moved to the Bahamas.
     It’s the same thing with a farmer: when you’re on the frontlines, you can’t make good choices. There’s too much information.
    01_2
    [/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] Try to take regular trips. Go to the lake on the weekend; spend some time in a quiet wood somewhere.
     I try to leave the state for five days every month, resetting my brain. I call it “sharpening the saw.” It’s just like exercise, except mental. When I first started farming, I’d drive to California twice a year, a 25-30 hour drive, and in the car I solved most of my business challenges.
     Avoid the noise, so you’ll know what to do when you’re back in it.

     3) Don’t do what everyone else is doing
     Templeton said that if he wanted to outperform all the other investment managers, he couldn’t read or do the same things they were doing.
     You’re not going to outperform the herd if you’re traveling with it. In fact, you can use the advice from the herd as a contrarian indicator.
     In recent years, when you look at the crazy herd mentality that put a lot of farmers out of business, it’s clear that it didn’t work. Fortunately, I was too new, dumb, and poor to make really bad decisions when I started out farming. I wasn’t haven’t good yields because I was just breaking up land when the prices were good, but it allowed me to cash flow that freshly broken sod.
     If you could go back and recreate what happened, what would you do as a farmer? You definitely wouldn’t be going out locking yourself into several years of high-cash rent. You wouldn’t be buying high-priced land or upgrading all your machinery at once just to avoid some taxes.
     We need to rewrite our own histories and say, “This is what I would’ve done.” The opportunity will come again, and you can handle things differently this time around.

     4) Go where others fear going
     People would ask Templeton where the outlook for opportunities was good. According to him that was the wrong question: instead, you must look where the outlook is miserable to find good investments.
     Think about when oil got down to $30 a barrel and everybody freaked out. What if you’d bought a ton of oil stocks instead? You’d be sitting pretty.
     It was the same case with silver recently, and my best-performing stock this past year was in silver. When you can buy a company for less that what their assets are worth, you’ve got to do it.
    1-1_7    [/vc_column_text][ult_buttons btn_title=”TRY CASHCOW FARMER FREE FOR 30 DAYS” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] 5) Look to the future—not the present—when valuing assets
     Whenever John would look at buying a company, he would have his analysts forecast the price-to-earnings ratio five years down the road. Think about oil: if it’s $30 today, and we project it to be $50 in five years, the company will be worth a whole lot of money.
     It’s the same with agriculture. Set yourself up so that five years down the line you’re in a great position when times are tough. That’s the kind of forward thinking that will set you apart.

     6) Break complex things down into things that are simple
     When people asked Templeton what his approach was, he would simply say, “Buy cheap stocks.” Not cheap in regard to great value, just cheap depressed stocks.
     He’d figure out which were the good companies that were just in an industry that was hated. When the whole sectors go down, good companies get devalued. You can pick them up for pennies on the dollar.
     For the complexity of grain marketing, Cash Cow Farmer has a 5-step process for building a bulletproof grain marketing plan for our customers. Breaking it down into a process makes it way easier than trying to decide how you’re going to sell your grain at the top of the market and forecast the futures. If you don’t break marketing down, it becomes a behemoth that’s impossible to take down.

     7) Delegate weakness
     Most investment funds hire analysts and manage the business themselves. Templeton loved the analytical work, so he would outsource the management and just focus on picking winners.
     On the farm, if you’re good at operating machinery and growing commodities in the worst possible environment, that’s where you should focus your effort—not on business strategy or marketing if that’s not what you like to do. A lot of farmers love the work of producing grain, but sell it at inconvenient times and limit their profitability or even sell for a loss at times.

     Bonus: Time management
     Templeton always carried books and papers with him, so that if he had any extra time he would have something productive to do.
     While you’re sitting in line at Walmart, waiting to check out, there’s no reason you can’t check the markets, reach out to your team, or read an article about farming. Or while you’re sitting in line at the elevator, listen to podcasts or a book on tape.
     Anything to be productive. That’s the “John Templeton Way.”

     Need something to listen to while you’re waiting around at the elevator? Check out The Cash Cow Farmer Podcast, where we give advice every week on running your farm operation like a Fortune 500 company.
     If you don’t use iTunes, you can listen to it here.[/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”40″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”40″ screen_tablet_spacer_size=”30″ screen_mobile_spacer_size=”20″][/vc_column][/vc_row][vc_row dfd_row_config=”full_width_content” dfd_row_parallax=”off” dfd_row_responsive_enable=”off” dfd_enable_overlay=”off” css=”.vc_custom_1470889834038{background-color: #2d2d2d !important;}”][vc_column width=”3/4″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][ultimate_heading heading_type=”customizable” heading_tag=”h3″ heading_content=”FREE GRAIN MARKETING STRATEGY SESSION!” main_heading_default_weight=”400″ main_heading_color=”#ffffff” subheading_type=”customizable” subheading_tag=”h5″ sub_heading_default_weight=”400″]DON’T LET THE MARKETS WIN…SCHEDULE YOUR FREE SESSION TODAY![/ultimate_heading][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][/vc_column][vc_column width=”1/4″ column_responsive_mobile_classes=”dfd-remove-right-padding” column_responsive_mobile_resolutions=”dfd-apply-mobile” css=”.vc_custom_1470810100672{padding-right: 2% !important;}”][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][bt_animation animation_type=”_flipX” duration=”2″ repeat=”2″ allow_margins=”yes” scroll_offset=”5px” no_hide=”yes”][ult_buttons btn_title=” FREE STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-large” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][/bt_animation][vc_column_text]

    SCHEDULE YOUR FREE SESSION TODAY!

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  • Top 2 government programs for low prices

    [vc_row][vc_column][vc_column_text]When times are tough, there’s help at the local FSA[/vc_column_text][vc_column_text]0_18
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     On some commodities, we’ve hit some pretty interesting times. This is especially true with wheat.
     Sometimes we just have to be patient for something bad to happen to put prices up. In the meantime, I want to talk about two programs that are essential to a farmer’s cash flow through a tough time like this, if they don’t have the grain sold in advance.

     1) Commodity loans
     We’ve talked about commodity loans, I don’t know, maybe 1,000 times? There’s a reason why, though.
     They’re useful.
     You can find the full information about commodity loans here, but basically if you’re going to put grain in the bin and you have any sort of opportunity to prepay for stuff, taking a commodity loan may be just what the doctor ordered.
     A commodity loan is for nine months. The interest rates are 1% above the rate borrowed by the U.S. treasury. Last year I borrowed the grain I did a commodity loan on at 1.25%, which is very very good.
     The only downside about commodity loans is that the government always seems to find a way to run out of money. So lending money to farmers is not as important as other things. The FSA could run out of money, technically, and run out of credit.
     But the downside doesn’t outweigh benefit in this case. Take advantage of commodity loans.
    1
     The rates are different depending on where you’re at, as you can see. It’s not a lot compared to what you’ll get at market, but at least you’ll have some cash at low interest to get you through. And if you can use it to prepay and get 10% discounts ahead of time, you’ll be ahead in the long run.[/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] 2) Loan deficiency payments
     This is something that hasn’t happened in farming in a long time.
     You can find a link to LDP rates, and how they’re calculated, here. But here’s how it works:
     LDP rates are determined by the amount the applicable commodity loan rate exceeds the determined value, which is the lesser of either:

    • 30-calendar day Posted County Price (PCP)
    • Alternative PCP, which is a 5-calendar day rolling average.

     In my area, the alternative PCP was $2.87 when I took this screenshot, and the loan rate was $3.03 for hard red winter wheat, so there was a $0.16 LDP.
     Basically, for the grain you have, you can either take a loan on it (a commodity loan, which we just talked about) or you can take an LDP payment. At the point of taking an LDP payment, you can’t take a commodity loan, but the government will give you the difference between that cash price and loan rate, which for the wheat example was $0.16. It’ll give you that price based on how many bushels you want to do it on.
     There are some mitigating circumstances: you have to have control of the grain, for example.
     LDP payments are something you can do for things like wheat. I hope you won’t need it for corn: that would meant the cash price is less that $1.83, which I don’t see happening. But for the folks who have wheat, this is a great way to get money out of it without selling it. Or you could take the LDP and then sell it, getting another $0.16.[/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] More on PCP
     There’s the 30-day Posted County Price (PCP), then there’s an alternative PCP, which is a five-calendar-day average instead of 30. So if we have a huge drop in commodity prices, that alternative PCP will pick that up.
     In the wheat example, the alternative PCP was $2.87. The 30-day was $4.24. Obviously, the moving average is going to be a lot flatter because it’s a 30-day average. There’s a huge difference between the two.
     PCP is different in every county, again, so go to your local FSA to figure out. There’s a lot to it, but it’s worth doing your homework on. And it’s a part of farming if you want to take advantage of opportunities.

     Conclusion
     That’s it! I think I’ve made this as confusing as possible.
     But really, it’s actually simpler than it looks. You’ve got to pick one, a commodity loan or an LDP payment, and at that point it’s up to you. It’s different for everybody, which is why having a custom approach to this grain marketing is so important.

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  • 5 tips to decide whether or not to store grain

    [vc_row][vc_column][vc_column_text]0_16
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     By the time this goes live, we’ll probably be in harvest.
     It’s important to think about where commodity prices are right now and what to do with grain that you haven’t sold.
     So I want to put together a few things for farmers to think about when it comes to storing grain.

     1) Storage costs per month
     If you have grain that you haven’t sold, you have to take into account your storage costs.
     The co-op is probably the most expensive option, usually anywhere from $0.03-$0.07 a month. Every month, you’ll lose that storage cost on that grain.
     That’s a big move in the commodity market, especially for corn. So if you plan on selling in July and you’re going to pay seven months of storage, you’ll have maybe $0.35 of storage costs you’ll have to take into your calculations. It may be better to sell it and buy it back on paper, or just flat-out sell it and wait for next year.
     You can also have condo and on-farm storage. Just know this: there’s always a storage cost.
     It’s not always easy to tell, especially with on-farm storage, because it’s not a flat rate. The costs could be loss of grain due to mold, a hotspot getting into the bins, running your fans, or unloading all your trucks then unloading the bins and the potential danger to your employees they bring.

     2) Basis at harvest
     We’ve talked about basis a lot before, but it’s especially important when figuring out what to do with your grain.
     Look at your basises on your different commodities and figure out, given the average of your past five years, where you’re at on basis? Is it a good basis?
     The main purpose of storing grain on your own farm is to take advantage of an improved basis later on in the year—so make sure that’s the case. You’ll need to beat the cost of loading and unloading bins plus storage costs with basis improvements of at least $0.30.
     If there’s a huge harvest in your area, then the basis isn’t going to be good at harvest. However, if the harvest isn’t great in your area, because of a drought or whatever, you may want to look at selling.
     Look at your five-year average, and figure it out. The basis will tell you what to do with your crops. [/vc_column_text][ult_buttons btn_title=”TRY CASHCOW FARMER FREE FOR 30 DAYS” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] 3) Carry in deferred contracts
     With all futures, there are several contracts every year. The deferred contracts are any of the contracts after harvest and before next year’s harvest.
     Most people are going to look at July for corn versus December. If you look at the December contract and it’s trading at $3.30 and the July contract is trading at $3.50, that’s 20 cents just in holding your grain for six months.
     Then you look at storage costs and the potential basis movement. It doesn’t make sense to store if there’s no carry in the market, and you want to take advantage of that carry when it’s big.

     4) Cash flow needs
    1-1_4
     At the end of October is the first prepay date for 2017 corn seed. I feel like they get earlier every year, wanting my money to buy seed for next year, even though I’m not going to plant till April or May.
     Make sure you have cash on hand in the fall to cover your debt payments and availability to a line of credit (or cash of course) to prepay the seed, because if you pay now, the discount those companies are willing to pay you is huge, even 10% off your seed. That’s not even including all your volume discounts.
     If you want to be the lowest-cost producer, you’ve got to make sure your cash flow is on point to take advantage of all the early-pay discounts.[/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] 5) Opportunity cost of capital
     When you decide to either convert your grain to cash or to put it into bins, remember that grain in a bin is only valuable to a couple of people. Cash, in contrast, is valuable to a lot of people. You can invest in other ventures, pay for a financial advisor, and do a ton of other things.
     That’s the opportunity cost of capital, which a lot of people don’t think about. What can I do with cash today instead of hoping for more later from the grain in my bins? Is there anything I can invest in today? More farmland, an upgrade in tractors?

     Conclusion
     Neither selling all grain at harvest or storing it in grains is always the right answer. The best choice depends on a variety of factors, some of which I’ve included here.
     My best advice is this: just don’t do what you’ve always done just because it’s how you’ve always done it. Look at your options, put in the work to forecast your costs, and make the best financial decision for your farm.
     Need help sifting through your options? Let us know what you’re going through—we offer free grain marketing strategy sessions.[/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”40″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”40″ screen_tablet_spacer_size=”30″ screen_mobile_spacer_size=”20″][/vc_column][/vc_row][vc_row dfd_row_config=”full_width_content” dfd_row_parallax=”off” dfd_row_responsive_enable=”off” dfd_enable_overlay=”off” css=”.vc_custom_1470889834038{background-color: #2d2d2d !important;}”][vc_column width=”3/4″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][ultimate_heading heading_type=”customizable” heading_tag=”h3″ heading_content=”FREE GRAIN MARKETING STRATEGY SESSION!” main_heading_default_weight=”400″ main_heading_color=”#ffffff” subheading_type=”customizable” subheading_tag=”h5″ sub_heading_default_weight=”400″]DON’T LET THE MARKETS WIN…SCHEDULE YOUR FREE SESSION TODAY![/ultimate_heading][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][/vc_column][vc_column width=”1/4″ column_responsive_mobile_classes=”dfd-remove-right-padding” column_responsive_mobile_resolutions=”dfd-apply-mobile” css=”.vc_custom_1470810100672{padding-right: 2% !important;}”][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][bt_animation animation_type=”_flipX” duration=”2″ repeat=”2″ allow_margins=”yes” scroll_offset=”5px” no_hide=”yes”][ult_buttons btn_title=” FREE STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-large” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][/bt_animation][vc_column_text]

    SCHEDULE YOUR FREE SESSION TODAY!

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  • Do you run your farm like John DeLorean or General Motors?

    [vc_row][vc_column][vc_column_text]0_20
    Don’t have time to read? Listen to it here:
    [smart_track_player url=”http://traffic.libsyn.com/cashcowfarmer/Do_you_run_your_farm_like_John_DeLorean_or_GM__Master_Shorter.mp3″ social=”true” social_twitter=”true” social_facebook=”true” social_gplus=”true” ]

     John DeLorean was a pretty interesting man.
     I learned a lot about him by reading a book called Ego is the Enemy by Ryan Holiday. Holiday was a child genius who ended up being an executive at American Apparel. In the past year or two, it came out that their founder had a terrible personal life and dealt with all kinds of corruption.
     They tried to fire him from the company. Holiday was there, one of the youngest executives in the company, watching this unfold. He wrote his book based on his experience with his boss’s ego, including lots of great stories of how ego destroys companies.
     But the John DeLorean story was my favorite.

     The misadventures of John DeLorean
     John DeLorean was a designer at GM who wanted to produce futuristic cars. He was convinced that the culture of order and structure at GM was holding back creative geniuses like himself.
     Since he was a very good salesman, he felt confident in his ability to forge his own path in business. So he walked away from his job at GM in order to produce his brand of futuristic cars.
     He failed miserably.
     Without the Back to the Future reference, most people would likely never know what a DeLorean Car was. They were cool in the movie, but in reality, without the flux capacitor, the car was a piece of junk. It had some cool features such as the doors opening upwards, but the car was terribly inefficient.
    1-1_6
    [/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] DeLorean was indeed a genius, but he couldn’t manage himself. He was the cause of extreme disorganization and failure in the DeLorean car company.
     If you can’t manage yourself, you can’t manage people.
     (By the way, I highly recommend the book Managing Oneself by Peter Drucker on this subject.)

     What farmers can learn from John DeLorean
     When I talk to farmers, a lot of the same issues from the John DeLorean story arise. They fail to manage themselves and are often making gut decisions rather than logical and planned decisions, especially when it comes to grain marketing. You can join us for a FREE Personal Grain Marketing Plan Webinar October 5th to help to show key steps to overcoming emotion and stress in grain marketing.
     They don’t like the structure. They just like running the tractors and don’t care about sitting in the office.
     The reality is, there’s work you’ve got to do in organizing and analyzing your finances in order to run a successful business.
     A lot farmers are geniuses at production, but when it comes time for sales, and to build a growth model, they’re not interested. They may lack the knowledge and structure it takes for marketing, and they may need to outsource it.
     It was DeLorean’s pride that led to his downfall. He believed he could do everything. Really, he should have gotten himself good business partners.
     In the same way, we have to focus on our strengths and get help with our weaknesses. For those of you who don’t want to learn new things, that’s OK. Just hire someone with knowledge to do that thing for you.
     Henry Ford was famous for implementing this concept. Once, when his company was being sued, Ford was asked scientific questions he didn’t know the answers to. He said, “I don’t know all the answers, but on my desk I’ve got a bunch of buttons, each of which would call someone who could answer any question you come up with.”
    2
    [/vc_column_text][ult_buttons btn_title=”TRY CASHCOW FARMER FREE FOR 30 DAYS” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] Andrew Carnegie did the same thing. At one time, he was the richest man in the world, but he wasn’t an expert in industry. He was an expert businessman who knew how to lean on others.
     You should be passing off two main areas of their business, if you don’t have a lot of time to devote to them:
     1) Production – Know where every single penny on your operation goes; know what it takes to produce every bushel and where the inefficiencies are so they can be corrected.
     2) An organized sales plan – Have somebody help you form a plan. You can join us for a FREE Personal Grain Marketing Plan Webinar October 5th to help to show key steps to overcoming emotion and stress in grain marketing.
     Cash Cow has solutions to each of these: Farm Management Software on the production side and grain marketing advisory on the sales side.
     DeLorean bristled against the structure of GM, but only one car company in this story is still successful today—and it’s not his.
     What happened to DeLorean in the end?
     The DeLorean story doesn’t have a happy ending. He eventually began selling cocaine to try to finance his failure as a businessman . . . and he got caught.
     Identify your strengths and double down on them. But outsource your weaknesses. It seems that John DeLorean flipped that script, and that’s what caused him to fail.

    Too busy in the day-to-day to deal with finances and grain marketing? Let us help. Check out our solutions:     software on the production side and grain marketing advisory on the sales side. [/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”40″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”40″ screen_tablet_spacer_size=”30″ screen_mobile_spacer_size=”20″][/vc_column][/vc_row][vc_row dfd_row_config=”full_width_content” dfd_row_parallax=”off” dfd_row_responsive_enable=”off” dfd_enable_overlay=”off” css=”.vc_custom_1470889834038{background-color: #2d2d2d !important;}”][vc_column width=”3/4″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][ultimate_heading heading_type=”customizable” heading_tag=”h3″ heading_content=”MAXIMIZE PROFITS WITH CASHCOW FARMER!” main_heading_default_weight=”400″ main_heading_color=”#ffffff” subheading_type=”customizable” subheading_tag=”h5″ sub_heading_default_weight=”400″]POWERFUL FARM FINANCIAL SOFTWARE THAT IS AFFORDABLE & EASY TO USE![/ultimate_heading][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][/vc_column][vc_column width=”1/4″ column_responsive_mobile_classes=”dfd-remove-right-padding” column_responsive_mobile_resolutions=”dfd-apply-mobile” css=”.vc_custom_1470810100672{padding-right: 2% !important;}”][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][bt_animation animation_type=”_flipX” duration=”2″ repeat=”2″ allow_margins=”yes” scroll_offset=”5px” no_hide=”yes”][ult_buttons btn_title=” FREE 30 DAY TRIAL” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-large” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][/bt_animation][vc_column_text]

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  • Why most farmers fear grain marketing

    [vc_row][vc_column][vc_column_text]Refocusing for better results[/vc_column_text][vc_column_text]0_13
    Don’t have time to read? Listen to it here:
    [smart_track_player url=”http://traffic.libsyn.com/cashcowfarmer/Why_Most_Farmers_Fear_Grain_Marketing_Master.mp3″ social=”true” social_twitter=”true” social_facebook=”true” social_gplus=”true” ]

     In my mind I have a job, separate from my farming operation.
     It goes something like this: learn as much as I can, try to relate it to farming, and write or share content that relates to farmers.
     That’s what I did with the most recent Tony Robbins documentary. I’m a big Tony Robbins fan; he’s helped over 50 million people, and he’s a pretty amazing guy. When I watched the documentary, I learned something that I think is relevant to farmers and grain marketing today—fear is our biggest problem.
     It’s a fear that’s built over time. The way to fight your fear is to figure out what stresses you out in your business or life and keep digging down. Eventually, you’ll find that fear is underlying all your stress.
     For most farmers, the biggest fear is selling grain at the wrong price.
     Harvest isn’t that stressful: there’s a system for it, and it’s not that different from last year. The marketing is where farmers struggle the most. So how do we eradicate our fear?

     Suffering and beauty
     Not to get too deep into the kumbaya stuff, but . . . In life there is suffering or beauty.
     Suffering is usually based on fear. It’s fear of failure, uncertainty, or tragedy that underlies our feelings about grain marketing.
     Beauty is based on gratitude: our kids, wife/husband, the warm summer rain on our thirsty crops, and so on.
     Every thought will put you into a state: productive/unproductive, happy/fearful. You can tell the difference. 1[/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] When I mention grain marketing to farmers, their whole body language changes. They could be as confident as possible, then the rainfall pours over them, and they say, “You had to bring that up?”
     With grain marketing, there are a lot of bad habits. We may make a sale, think it’s the best we’ve ever made, then watch the markets go higher and higher the next day. That translates to deep-rooted fear, and farmers become worse and worse at marketing as they try to keep doing it on their own. That’s what wrecks them in the end.
     Farmers focus on their mistakes, which turns marketing into a fear-based part of the business. If they don’t have to sell, they’ll just sit on the grain, because if you don’t make a decision, you haven’t made a mistake. I’ve met some great farmers who are sitting on two years of crop, which amazes me every time.
     There has to be a better way. Let’s get specific about how to push back against your natural fear of grain marketing.

     2 ways to overcome fear
     1) Change your focus
     Change your focus and you will change your results. We learn the most from our failure.
     Start to change your focus by appreciating. Frame that one great sale you made at the top 5% of the production. Highlight your successes. Think about your kids, wife, parents, and the fact that you feed the world.

     2) The best way to overcome fear is to outsource it
    2-2_3    [/vc_column_text][ult_buttons btn_title=”TRY CASHCOW FARMER FREE FOR 30 DAYS” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] Look at your grain marketing, at why there was so much failure. It’s different for everyone.
     Double down on your strengths and outsource your weaknesses. If you’re a hell of a planner and love the markets, develop a team to run the farm.
     However, for the most part if you’re running a farming operation, spending a lot of time looking at the futures markets isn’t feasible. At Cash Cow, we work closely with Randy Martinson, who analyzes the markets every day. Leaning on his expertise, we build custom strategies for farmers so they can focus on running an efficient operation.
     It may seem simplistic, but this is a perfect example of outsourcing your fears.

     If I was to go back to college to learn computer programming, I wouldn’t be able to write these blogs and run a podcast for farmers. I wouldn’t have the time.
     It’s the same thing with grain marketing. I’ve got tons of books on my shelf about markets, portfolio management, economic cycles, financial analysis… I’ve done a lot of education personally, trading for over a decade, and I still make mistakes. That’s why I outsource my grain marketing to Randy.
     Unless you devote 100% of your time to studying the markets, it’s extremely hard to banish your fear of grain marketing without help.

     Conclusion
     We do grain marketing strategy sessions. Whether you become a customer or not, we try to help you develop a strategy and figure out if there’s a better solution out there. We’re familiar with our competitors, and if what we offer doesn’t make sense, we’ll pass you along to them.

     Try out a free grain marketing strategy session with us. We would love to absorb some of the fear you have about grain marketing.[/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”40″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”40″ screen_tablet_spacer_size=”30″ screen_mobile_spacer_size=”20″][/vc_column][/vc_row][vc_row dfd_row_config=”full_width_content” dfd_row_parallax=”off” dfd_row_responsive_enable=”off” dfd_enable_overlay=”off” css=”.vc_custom_1470889834038{background-color: #2d2d2d !important;}”][vc_column width=”3/4″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][ultimate_heading heading_type=”customizable” heading_tag=”h3″ heading_content=”MAXIMIZE PROFITS WITH CASHCOW FARMER!” main_heading_default_weight=”400″ main_heading_color=”#ffffff” subheading_type=”customizable” subheading_tag=”h5″ sub_heading_default_weight=”400″]POWERFUL FARM FINANCIAL SOFTWARE THAT IS AFFORDABLE & EASY TO USE![/ultimate_heading][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][/vc_column][vc_column width=”1/4″ column_responsive_mobile_classes=”dfd-remove-right-padding” column_responsive_mobile_resolutions=”dfd-apply-mobile” css=”.vc_custom_1470810100672{padding-right: 2% !important;}”][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][bt_animation animation_type=”_flipX” duration=”2″ repeat=”2″ allow_margins=”yes” scroll_offset=”5px” no_hide=”yes”][ult_buttons btn_title=” FREE 30 DAY TRIAL” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-large” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][/bt_animation][vc_column_text]

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  • Is ag retail the enemy?

    [vc_row][vc_column][vc_column_text]Making sure the farmer gets the best value[/vc_column_text][vc_column_text]0_12
    Don’t have time to read? Listen to it here:
    [smart_track_player url=”http://traffic.libsyn.com/cashcowfarmer/Interview_with_Andy_Wuebben.mp3″ social=”true” social_twitter=”true” social_facebook=”true” social_gplus=”true” ]

     It really depends on a few things.
     I had the pleasure of recently interviewing Andy Wuebben, partner at Vertical Exchange, on the Cash Cow Farmer podcast. The Vertical Exchange team are basically middlemen between several verticals, including farming, connecting buyers with suppliers.
     By ag retail, we’re referring to the CHS’s, the wheat growers, the giant co-ops of the world: the people who tend to cover a certain region. For instance, if you take South Dakota ag retailers, they have a home base in one town and will cover several around that with distribution, but their goal is to provide the grower with the inputs necessary to run their operation. And they usually do a great job.
     There’s my answer to our question overall: they are not the enemy. They provide a value add to the grower.
     Sometimes, though, they can be enemies to farmers. Or at least hindrances.

     In what situation would the ag retailer be the enemy?
     Innovation does not happen on a regional basis. It happens in a lab environment or with engineers at a company’s headquarters.
     So if you’re a grower buying your inputs, you’re not relying on your retailer to tell you about innovation. You have to find sources where you go out and do that yourself. That may be trade shows, conferences, etc.
     Vertical Exchange is saying, “We’ll take the top growers and connect them with the people who are innovating.”
     The ag retailer can disrupt that communication. They’re not necessarily going out there to find what the next best product for the grower is. They’re looking at their portfolio today and are not as worried about the portfolio of the future.

     The way that farmers are getting information on innovation today is at farm shows. What’s your opinion on that, since it’s all salespeople at farm shows?
    1
     You can break farm shows into two categories:
     1) Large national shows
     2) Regional shows
     It can be difficult to get a good perspective in regional shows because you don’t typically have corporate representation. But at large national shows, you have a phenomenal representation of senior leadership.
     That is, if you can get to the shows. Some of them are in very remote locations.
     Vertical Exchange is trying to carve out a unique value proposition: those shows have to present to the larger groups, whereas Vertical Exchange tries to customize to each individual operation. That’s why they only select 25 growers from across the Upper Midwest: so the grower can get a presentation specifically tailored to his/her agricultural region.[/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] What’s been the feedback?
     There is a 50-75% plus success rate when it comes to a grower identifying a supplier. When it comes to the equipment category, you’ll see a 15-20% plus success rate on identifying something that can uniquely bring success to your operation.2-1_3
     It’s easy to understand why their business model works. For product engineers, it’s great to sit across the table from a business owner (which is what you are).
    Growers who know how to efficiently run an operation can and should impact the development of their product solution, if that solution is going to be used by a grower. They should be doing everything they can to sit down one-on-one with business owners who can provide feedback for them about a successful platform for their product.    [/vc_column_text][ult_buttons btn_title=”TRY CASHCOW FARMER FREE FOR 30 DAYS” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] Conclusion
     I deal with this a lot with the Cash Cow’s farm management software. A lot of our competition is venture capital firms that funded a bunch of engineers in Silicon Valley to develop software for farmers. When you look at the software, you can tell these guys have never run a farm before.
     The data entry model and the way that stuff is gathered doesn’t make sense from a farmer level. So they could use a service like Vertical Exchange.
     I get it, though. It’s tough to be both efficient and personal at the same time, for a software to automatically know what’s best for a person.
     You’ve got to have a personal dialogue with people, which is why we offer personal grain marketing plans as well as software. We know that people need to trust us to believe we can improve their operation.

     For more on Vertical Exchange, you can visit their website. [/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”40″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”40″ screen_tablet_spacer_size=”30″ screen_mobile_spacer_size=”20″][/vc_column][/vc_row][vc_row dfd_row_config=”full_width_content” dfd_row_parallax=”off” dfd_row_responsive_enable=”off” dfd_enable_overlay=”off” css=”.vc_custom_1470889834038{background-color: #2d2d2d !important;}”][vc_column width=”3/4″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][ultimate_heading heading_type=”customizable” heading_tag=”h3″ heading_content=”FREE GRAIN MARKETING STRATEGY SESSION!” main_heading_default_weight=”400″ main_heading_color=”#ffffff” subheading_type=”customizable” subheading_tag=”h5″ sub_heading_default_weight=”400″]DON’T LET THE MARKETS WIN…SCHEDULE YOUR FREE SESSION TODAY![/ultimate_heading][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][/vc_column][vc_column width=”1/4″ column_responsive_mobile_classes=”dfd-remove-right-padding” column_responsive_mobile_resolutions=”dfd-apply-mobile” css=”.vc_custom_1470810100672{padding-right: 2% !important;}”][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][bt_animation animation_type=”_flipX” duration=”2″ repeat=”2″ allow_margins=”yes” scroll_offset=”5px” no_hide=”yes”][ult_buttons btn_title=” FREE STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-large” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][/bt_animation][vc_column_text]

    SCHEDULE YOUR FREE SESSION TODAY!

    [/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”10″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”10″ screen_tablet_spacer_size=”10″ screen_mobile_spacer_size=”10″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”15″ screen_tablet_spacer_size=”10″ screen_mobile_spacer_size=”10″][/vc_column][/vc_row]

  • 5 key steps to run your farm like a fortune 500 company

    [vc_row][vc_column][vc_column_text]Something like 90% of businesses fail within the first two years.[/vc_column_text][vc_column_text]0_9
    Don’t have time to read? Listen here:
    [smart_track_player url=”http://traffic.libsyn.com/cashcowfarmer/5_Key_Steps_To_Run_Your_Farm_Like_A_Fortune_500_Company_Master.mp3″ social=”true” social_twitter=”true” social_facebook=”true” social_gplus=”true” ]

    The main reasons? Structure, strategy, and accountability.
     When you’ve got millions of shareholders you have to report to (like Apple, for example), Wall Street analysts break down your company and try to out-predict you, and you’re on a whole other level of business. Most small businesses don’t have that same pressure to perform, though, which can be both good and bad.
     With my background on Wall Street, helping businesses raise money from investors, I’ve learned a lot of strategies that Fortune 500 companies use. In this post, we’re going to apply those to the common farm.
     You can take these five steps to whatever level you want, but they’re essential to maximizing your business.

     1) Know your exact production costs
     You should know your production costs, down to the penny, for every commodity and field in your operation.
     This is the budgeting side of things. Budgeting is step #1: it’s the first thing you do in building a business. What’s it going to cost to run this business, acquire a customer, or to grow a bushel of a crop?
     This can get complicated, which is the whole reason the Cash Cow Farmer software was invented. It’s the easiest way to track where every penny is spent and made.
     Whatever method you use, have a system where data can be collected in one place and help you drive real decisions that impact your bottom line.

     2) Make a sales strategy
     Unlike most companies, we sell commodities rather than products like iPhones or refrigerators. And grain marketing is a lot different from traditional marketing.
     The biggest challenge for farmers is in forecasting production and having a sales strategy, where you’re taking into account your storage and logistics for basis, your insurance levels protecting future crop, price targets working with an advisor using futures options, and so on… You have to have a great strategy, or you’re going to fumble this thing.
     I’m actually at the tail-end of writing a book about this. It’s called The Grain Marketing Bible: 7 Steps To A Bulletproof Grain Marketing Plan. I’ve spent the last several months writing it, and it’s my gift to farmers.[/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] 3) Develop a board of directors
    1
     It’s good to ask advice from people who aren’t emotionally involved in your business. Having a board of directors is a perfect way to get that advice.
     Your partners should definitely be on such a board. You should also have a few other key people: bankers, accountants, legal staff, mentors, and other successful farmers and entrepreneurs. Obviously, you don’t want your neighbor farmer on the board if he’s not crushing it or if you don’t trust him with certain aspects of your business, though.
     A board of directors is a huge resource for being accountable to people. When five or six people say it looks like you need to build a grain marketing plan, you’re probably going to do it. Accountability is the main benefit, then having them ask you hard questions that you’ll have to dig deep into the market to answer.
     Sometimes it can be like herding cats: everybody’s got their own lives or businesses. You can consider paying them a small amount.
     Either way, accountability is how a Fortune 500 company stays successful.

     4) Quarterly reports with your banker or accountant
     For a farmer, “quarterly” might be more often than necessary. You might change it to an annual report. Your first few quarters might look bad if you’re financing and you sell at the end.
     However, you should have at least one annual report of what exactly happened in your business. When you do an earnings report, you can glean key takeaways about what you could do better: five key points you did well and five you’re going to improve, for example.
    2
    You’re going to go far if you do that sort of reporting. Your banker will see you as an aggressive, intuitive businessperson.[/vc_column_text][ult_buttons btn_title=”TRY CASHCOW FARMER FREE FOR 30 DAYS” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] 5) Have a 5 and 10 year business plan
     In the recent Tony Robbins documentary, Tony says, “People overestimate what they can get done in a year and underestimate what they can get done in two or three decades.”
     That’s one thing that entrepreneurs and farmers need to be thinking about.  There’s only so much you can achieve in a year, given your circumstances. But think ahead to the next 5, 10, and 20 years, and set goals for yourself.
     Let’s say right now you’re renting farmland. You might have an 80-year-old farmer who owns land next to you; maybe you should have a conversation, and let them know when they’re ready to hang up their hat to keep you in mind.  Forming those relationships now can pay off down the line.
     If you’re a 50- or 60-year-old farmer, this works in reverse too. You’ve seen a lot, and you can build the next generation on your farm. Sit down with your children or other young farmers to put together a long-term plan. For them to successfully buy farmland, they will have to plan years in advance.

     Conclusion
     Start planting seeds early if you want great yields 5-10 years down the road. Run your farm like a Fortune 500 company: with structure, smart strategy, and regular accountability.
     Farming is a business just like any other.

     If you’re interested in running a farm like a Fortune 500 company, try out our free trial.[/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”40″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”40″ screen_tablet_spacer_size=”30″ screen_mobile_spacer_size=”20″][/vc_column][/vc_row][vc_row dfd_row_config=”full_width_content” dfd_row_parallax=”off” dfd_row_responsive_enable=”off” dfd_enable_overlay=”off” css=”.vc_custom_1470889834038{background-color: #2d2d2d !important;}”][vc_column width=”3/4″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][ultimate_heading heading_type=”customizable” heading_tag=”h3″ heading_content=”FREE GRAIN MARKETING STRATEGY SESSION!” main_heading_default_weight=”400″ main_heading_color=”#ffffff” subheading_type=”customizable” subheading_tag=”h5″ sub_heading_default_weight=”400″]DON’T LET THE MARKETS WIN…SCHEDULE YOUR FREE SESSION TODAY![/ultimate_heading][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][/vc_column][vc_column width=”1/4″ column_responsive_mobile_classes=”dfd-remove-right-padding” column_responsive_mobile_resolutions=”dfd-apply-mobile” css=”.vc_custom_1470810100672{padding-right: 2% !important;}”][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][bt_animation animation_type=”_flipX” duration=”2″ repeat=”2″ allow_margins=”yes” scroll_offset=”5px” no_hide=”yes”][ult_buttons btn_title=” FREE STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-large” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][/bt_animation][vc_column_text]

    SCHEDULE YOUR FREE SESSION TODAY!

    [/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”10″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”10″ screen_tablet_spacer_size=”10″ screen_mobile_spacer_size=”10″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”15″ screen_tablet_spacer_size=”10″ screen_mobile_spacer_size=”10″][/vc_column][/vc_row]

  • 7 reasons you should kiss your American soil – Ukraine farming

    [vc_row][vc_column][vc_column_text]The grass isn’t always greener on the other side of the fence[/vc_column_text][vc_column_text]27429_blogimages_080316-01
    Don’t have time to read? Listen here:
    [smart_track_player url=”http://traffic.libsyn.com/cashcowfarmer/7_Reasons_You_Should_Kiss_Your_American_Soil_-_Ukraine_Farming_Master.mp3″ social=”true” social_twitter=”true” social_facebook=”true” social_gplus=”true” ]

     Recently I spent a week in Ukraine.
     My dad had done quite a bit of business in Ukraine with his invention the Anderson Opener, and we used to have Ukrainian agronomists live at our farm during the season to test solutions for farming in our fields.
     I visited a company called Agro-Soyuz in eastern Ukraine, about 100 miles from where the war’s going on with Russia.
     Agro-Soyuz has a huge manufacturing facility, massive parts distribution, a farm operation of about 25,000 acres of corn, sunflowers, wheat and soybeans, plus a few other businesses. You go anywhere near it, and everyone has heard of the facility. It’s just amazing: they’ve got cattle, pigs, ostriches, and even a bunch of german shepherds that guard the factory.
     I had really wanted to visit the company and the partners ever since my dad told me about it as a kid, so I did. But I also learned a bunch of things that made me want to come back and kiss my American soil.

     1) No private property rights
     You cannot own farmland in Ukraine. You can build buildings and own land in that regard, but you cannot own farmland.
     Imagine if you couldn’t farm your own land, if everything you farmed was guaranteed to be rental property…
     The people at Agro-Soyuz have 25,000 acres and 700 landlords. Those landlords can’t sell their farmland, and they only own about 10 or 20 acres each. So they own these tiny patches, which have been stitched all together.
     In one large field you may have 100 landlords, who aren’t necessarily getting the same rent. It’s just a crazy mess.

     2) War
    27429_blogimages_080316-02
     We were 100 miles from actual war. At the risk of stating the obvious, that’s just not an environment to be in. What an enormous risk factor for anyone trying to do business in the area.
     Be thankful. I mean, it’s war. When’s the last time you had a war within 75 miles of your farm?

    3) Massive business corruption
     When I was in Ukraine, I met a guy in Kiev (the capital) who builds skyscrapers.
     I asked him about building permits, thinking there must be a lot he had to obtain to build skyscrapers. He told me it was necessary to offer bribes for all building permits. It’s total corruption: you have to bribe everyone in business, so you have to have a lot of money to really get anything done.
     Sounds expensive—not to mention exhausting.[/vc_column_text][ult_buttons btn_title=”TRY CASHCOW FARMER FREE FOR 30 DAYS” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] 4) Currency collapse
     We’ve all heard these people on the radio warning that the U.S. dollar’s going to collapse, that we should all buy gold and silver. While there’s some validity to that warning, the United States has a fairly stable currency by comparison.
     In Ukraine, it used to be that 1 U.S. dollar would get you 8 hryvnia (their currency). So, the ratio was 1 to 8.
     At the peak of the war, when Russia took the Crimean landmass from Ukraine, it was 1 to 49.
    27429_blogimages_080316-04
     Think about it: phones, cars, and computers are mostly imported there. What if all of that—and everything you buy—all the sudden became six times more expensive overnight?

     5) Machine gun management
     The police and laws are corrupt in Ukraine, so businesses basically take what they want from other people. It’s a crazy situation.
     When I was over there, the partners actually told me, “Yes, we want to add another 25,000 acres to the farm, but without corruption the cost just to take over the leases will be several million.  Being an honest businessman in Ukraine is very challenging.

     6) Extreme interest rates
     Some of the people I met had lived in the United States. One man said, “It’s amazing. In America, I wanted to buy a Volkswagen one day, so I went to the dealership and got a new car.” He took out a loan and by the end of the day had a new car.
     In Ukraine, if you want to do that same deal, assuming you could convince the dealership you would pay them back, your interest rate would be somewhere between 20-25%.
     To put that in perspective, every three years, you’ve bought the entire car again. And interest rates would be the same if you tried to borrow money to operate your farm.[/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] 7) Low access to capital
     Because of all of the above, there is extremely low access to capital in Ukraine. Who would want to put money into a country that goes through that volatility in interest rate and currency and is experiencing war?
     Further, few people put their money in Ukrainian banks; they generally use Turkish or American banks for protection. If politicians try to get into those banks, they’re going to have problems. They’ll get crushed.
     All the local banks are corrupt. They have an FDIC, which is a deposit guarantee, for about $2,000. In the U.S., the guarantee is for about $175,000. So if the bank goes broke, you don’t lose more than that.
     Imagine if you couldn’t trust the banks here. And not everyone there has access to non-local banks.

     Conclusion
    27429_blogimages_080316-05
     The lesson at the end of the day? Kiss your American soil.
     You have it good over here. So do I. If you want to confirm that reality, go to a few other countries—even the more developed ones. The grass isn’t always greener.
     We’ve got a lot to be thankful for.
     Farmers have never had great access to business resources. When the tough times came in 2014, I built the Cash Cow Farmer Software Program. Basically, it simplifies the business side of farming and makes it easy so farms can be run like Fortune 500 companies. There’s no reason every field in your operation shouldn’t be profitable.
     If you’re interested in running a farm like a Fortune 500 company, try out our free trial.[/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”40″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”40″ screen_tablet_spacer_size=”30″ screen_mobile_spacer_size=”20″][/vc_column][/vc_row][vc_row dfd_row_config=”full_width_content” dfd_row_parallax=”off” dfd_row_responsive_enable=”off” dfd_enable_overlay=”off” css=”.vc_custom_1470889834038{background-color: #2d2d2d !important;}”][vc_column width=”3/4″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][ultimate_heading heading_type=”customizable” heading_tag=”h3″ heading_content=”MAXIMIZE PROFITS WITH CASHCOW FARMER!” main_heading_default_weight=”400″ main_heading_color=”#ffffff” subheading_type=”customizable” subheading_tag=”h5″ sub_heading_default_weight=”400″]POWERFUL FARM FINANCIAL SOFTWARE THAT IS AFFORDABLE & EASY TO USE![/ultimate_heading][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][/vc_column][vc_column width=”1/4″ column_responsive_mobile_classes=”dfd-remove-right-padding” column_responsive_mobile_resolutions=”dfd-apply-mobile” css=”.vc_custom_1470810100672{padding-right: 2% !important;}”][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][bt_animation animation_type=”_flipX” duration=”2″ repeat=”2″ allow_margins=”yes” scroll_offset=”5px” no_hide=”yes”][ult_buttons btn_title=” FREE 30 DAY TRIAL” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-large” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][/bt_animation][vc_column_text]

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  • 3 Tips To Successfully Hire Farm Workers:

    [vc_row][vc_column][vc_column_text]Good Help is hard to find but not impossible[/vc_column_text][vc_column_text]27272_blogimage01_072816
    Don’t have time to read? Listen here:
    [smart_track_player url=”http://traffic.libsyn.com/cashcowfarmer/3_Tips_To_Successfully_Hire_Workers_Master__File.mp3″ social=”true” social_twitter=”true” social_facebook=”true” social_gplus=”true” ]

     It’s tough to find good help, isn’t it?
     I’ve made a lot of mistakes hiring farm workers, from hiring really close friends to not properly interviewing people, to not setting expectations.
     But successful hiring is extremely important, especially in something like farming, where a small group of people are doing complicated, stressful work in an outdoor setting.
     In our post last week we talked about Navy Seals. Navy Seals trust each other with their lives. That’s the same kind of camaraderie you need in a successful business.
     Everybody has to understand the mission they’re trying to achieve, whether it’s planting, chemical application, harvesting, or whatever. If a Navy Seal fails to communicate with precision, the mission may be compromised or worse, death.
    In farming, poor communication probably won’t kill you but boy, you’ve got big and expensive problems when things don’t run smoothly.
     Think about your best planting day, how everything worked perfectly: if you want to be an elite farmer, that should be an average day. And hiring the right people is key to becoming that efficient.
     With that, here are three things that help with hiring the right people on the farm.

     1) Clear expectations
     Farming is a unique job, and before you hire somebody you have to be totally clear about what’s going to happen day to day.
     In particular, focus on the absolutely stressful times. If the person isn’t used to working on 4-5 hours of sleep for a week straight, they might not be a good fit. But if you prepare them for “Hell Week” all month, they won’t be caught off guard.
     I try to scare people right away, as early on in the interview process as possible. Only the best should even interview with you: try and tell them this is not for the meek. If they want to sit in A/C all day, this isn’t going to work.
     Also, if you see someone screwing up their job consistently, to the point where you or someone else has to step in and fill their role, don’t hesitate to set them free of the work entirely. You can’t have cancer floating around your team: remove it as early as possible.

     2) Tests
     A little while ago, I was looking for an administrative assistant. I decided to write a status on my personal Facebook about it, along with a couple of videos.
     I had 30 or so people interested. I wondered how I should pare them down.  Then I thought of an idea for a test.
     I’ve read Gary Vaynerchuk’s book Jab, Jab, Jab, Right Hook. The guy’s a genius. So I had the idea to give the 30 applicants a few assignments.
    27272_blogimage03_072816
     They had to

    1. Like Cash Cow Farmer’s Facebook page
    2. Read the book
    3. Post their top 10 takeaways on the Cash Cow Farmer Facebook page
    4. Share those takeaways and get some activity on that post

     I gave them five days: if they couldn’t do it in that time, they wouldn’t be a good fit. A lot of people dropped out. But one gal from Brazil had it done in a single day. (She works for me now.)
     You can do something similar. Maybe require your employees to read Unbeatable Mind by Mark Divine and bring 10 key takeaways. Or have them do a Strengthsfinders assessment to get some insight into how they tick.
     Or come up with your own test. The point is to weed out the candidates who aren’t good fits as soon as possible and allow the best people to prove themselves to you quickly.[/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] 3) Be a fun “servant leader” who follows up constantly
     Try to keep your work environment productive and fun. You’ve probably seen those startups that have ping-pong tables and video games all over their place. Think about how Google has all these restaurants on their campus, and a daycare.
     (Side note: I actually tried the Google strategy. I hired a live-in housekeeper to prepare my team breakfast, lunch, and dinner. It was expensive. It worked in the sense that they liked it (obviously), but the increase in productivity versus the cost wasn’t even close to worth it. In fairness, it’s not a creative environment: it’s a blue collar environment. At Google, you have to elevate your mindset. We’re not solving crazy-huge problems in farming. But at least we tried something!)
     On the productive side, continually follow up with your employees who are on the ground.
     I’m always asking my guys what we could do better. They offer great suggestions, and I tell them to price it out and let me know if they think the investment is worth it. I try to empower them.
     On our farm, with half the machinery of what a farm our size normally uses, we did the same amount of work this past spring. Our team is just amazing.
     Everybody takes ownership. One guy’s in charge of the planter, another the sprayer, and so on. They crush their roles, and if they have trouble, they call the manager who gets them going again—a smooth process.
    27272_blogimage04_072816
     In regard to fun stuff, we do something I call the “Machine Gun BBQ”. We have BBQ at the farm every now and then, and we just go out and shoot targets. It’s always a competition, and I have a couple of prizes I know they’ll like.
     We have a really good time together.
     If you’re always yelling at the guys every time you’re talking to them, it’s not gonna go well. Listening, then suggesting or asking questions to see what they think is the most economical solution is a great strategy.
     At the BBQ this last week, the guys barely mentioned something about wanting more hours. I pressed into that, asked exactly what they wanted, and asked our manager if we had enough work to give them.
     They designed their own work schedule; I just OK’d it because it made sense for them and the operation. You’d be surprised at how well a system like that works.

     Conclusion
     Your employees have their own goals, but they must help their teammates too in order to make sure they don’t compromise the mission.
     You, as a leader, must humble yourself and admit that you don’t have all the answers—you can’t tell everyone what to do. Empower your team members to take ownership and watch as some of your best decisions and ideas come from team members themselves.
     That’s the role of a “servant leader.”

    This post is based on an episode of the Cash Cow Farmer podcast. To listen to more great content like this,     subscribe to the show on iTunes.[/vc_column_text][ult_buttons btn_title=”TRY CASHCOW FARMER FREE FOR 30 DAYS” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text]This is another text box. Paste your written content here or delete this section by hovering over it and clicking the trashcan icon. No formatting necessary.[/vc_column_text][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”40″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”40″ screen_tablet_spacer_size=”30″ screen_mobile_spacer_size=”20″][/vc_column][/vc_row][vc_row dfd_row_config=”full_width_content” dfd_row_parallax=”off” dfd_row_responsive_enable=”off” dfd_enable_overlay=”off” css=”.vc_custom_1470889834038{background-color: #2d2d2d !important;}”][vc_column width=”3/4″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][ultimate_heading heading_type=”customizable” heading_tag=”h3″ heading_content=”MAXIMIZE PROFITS WITH CASHCOW FARMER!” main_heading_default_weight=”400″ main_heading_color=”#ffffff” subheading_type=”customizable” subheading_tag=”h5″ sub_heading_default_weight=”400″]POWERFUL FARM FINANCIAL SOFTWARE THAT IS AFFORDABLE & EASY TO USE![/ultimate_heading][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”25″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”25″ screen_tablet_spacer_size=”15″ screen_mobile_spacer_size=”10″][/vc_column][vc_column width=”1/4″ column_responsive_mobile_classes=”dfd-remove-right-padding” column_responsive_mobile_resolutions=”dfd-apply-mobile” css=”.vc_custom_1470810100672{padding-right: 2% !important;}”][dfd_spacer screen_wide_resolution=”1280″ screen_wide_spacer_size=”15″ screen_normal_resolution=”1024″ screen_tablet_resolution=”800″ screen_mobile_resolution=”480″ screen_normal_spacer_size=”0″ screen_tablet_spacer_size=”0″ screen_mobile_spacer_size=”0″][bt_animation animation_type=”_flipX” duration=”2″ repeat=”2″ allow_margins=”yes” scroll_offset=”5px” no_hide=”yes”][ult_buttons btn_title=” FREE 30 DAY TRIAL” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-large” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][/bt_animation][vc_column_text]

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  • Golden State Farming

    [vc_row][vc_column][vc_column_text]Examining the Complex Issues for Farmers in California Today[/vc_column_text][vc_column_text]25721_cash_cow_farmer_071916_01
    Don’t have time to read? Listen here:
    [smart_track_player url=”http://traffic.libsyn.com/cashcowfarmer/Interview_with_Vaughn_Brenda_and_Jeffrey_Chapman.mp3″ social=”true” social_twitter=”true” social_facebook=”true” social_gplus=”true” ]
     I do my farming over here in the Dakotas, and sometimes I’m guilty of focusing only on the type of farming that happens out our way. But of course, there’s a whole country (and world) of farming out there.
     So today we’re going to be focusing on some of the hot farming topics in the state of California. I learned this info in a recent interview on the Cash Cow Farmer Podcast with Vaughn Brenda and Jeffrey Chapman.
     Vaughn Brenda is the CEO and President of Valley Farms Supply, which has 4 farm supply stores in the Central Valley of California and is the parent company of the online venture Fence Post Ag. He’s also the VP of Valley Tool & Manufacturing, which produces nationally distributed brands like Vrisimo (flail mowers), Windmill Spraymasters, RockHound, and BrushHound.
     Jeffrey Chapman is the eCommerce Manager of Fence Post Ag and former investment banker. They both were kind enough to share some of the enormous challenges farmers in California are facing today. First, though, let’s look at what California farmers are actually growing.

     Dominant crops in California
     Right now, the dominant crops are grapes and nuts. Mostly almonds, which are the number one nut right now, but also walnuts and pistachios.
    25721_cash_cow_farmer_071916_03
     Dairy also has a huge history there in California. Those are the two arms of California agriculture: nuts and grapes, then dairy, though there are certainly others.
     California’s also good in what’s called “specialty crops”: that is, crops that are not tracked on a futures market like soybeans, corn, and other major exports, but rather things like vegetables and fruits like tomatoes and strawberries. Pretty much, if it’s hard to grow, it’s grown in California. Which makes the current obstacles in California that much harder to overcome.[/vc_column_text][ult_buttons btn_title=”TRY CASHCOW FARMER FREE FOR 30 DAYS” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2F30daytrial||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] The #1 challenge in California farming
     There is a huge, historic drought right now in California, and farmers are rightfully on edge. They just went through what’s called the El Niño year, which has been a relief, but only slightly.
     It’s an extremely complex issue going on right now, and depending on what part of the state you’re in, your viewpoint will be different, since districts handle their water differently. Some have access to a lot of water, while others don’t, and still others are reliant on federal or other states’ water.
     In short, many are dependent on the California aqueduct. In other parts of the state, some are more reliant on reservoir water and canal water, or “surface water,” and they might be better off. But if it doesn’t rain a lot, it doesn’t matter where you are: you’re not in a good place.
     Vaughn hears stories every day about pumps going dry, and about people who are going 800-900 feet underground in search of water, which is unheard of. Research being done by really smart people is looking at how to “recharge the groundwater.”
    25721_cash_cow_farmer_071916_05
     It’s interesting because one side of the aisle says, “There’s plenty of rain. We’re just not capturing enough.” The population of California has gone up dramatically, but the number of reservoirs hasn’t.
     Then people on the other side say that Californians are just using too much water. There’s a stressful divergence between the two sides.
     Have farmers had to fold up shop?
     Probably so, but Vaughn and Jeffrey are seeing the following scenario more commonly.
     In a normal year you’ll see 80% utilization of somebody’s water, especially among farmers who have permanent crops and will do anything they can to water their crops. If you, the farmer, have hundreds or thousands of acres, you may have literally millions of dollars of investments that need water.
     But if you’re planting non-permanent crops like tomatoes or melons, you can choose to fallow your crops for a time. If a field looks dry, you don’t have to plant it.
     This last category of people has a little more flexibility, but because of the current circumstances, some of them are only farming 20% of what they could be farming. To cut your production by 60% because you don’t think there will be enough water is pretty drastic.
     Farmers have to have income to buy products. How has this drought impacted the stuff sold at Fence Post Ag and Valley Farm Supply? 25721_cash_cow_farmer_071916_08[/vc_column_text][ult_buttons btn_title=”SCHEDULE A FREE GRAIN MARKETING STRATEGY SESSION” btn_link=”url:https%3A%2F%2Fcashcowfarmer.clickfunnels.com%2Fmarketing-strategy||target:%20_blank” btn_align=”ubtn-center” btn_size=”ubtn-small” btn_title_color=”#ffffff” btn_bg_color=”#00ab61″ btn_hover=”ubtn-fade-bg” btn_bg_color_hover=”#ffffff” btn_title_color_hover=”#00ab61″ btn_icon_pos=”ubtn-sep-icon-at-left” btn_border_style=”solid” btn_color_border=”#ffffff” btn_color_border_hover=”#00ab61″ btn_border_size=”2″ btn_font_size=”18″][vc_column_text] Vaughn and Jeffrey sell farm equipment itself, but also all the parts and supplies. When people are nervous and unsure of the future, the larger purchases tend to get shelved and purchases tend to lean more towards maintenance and trying to get one more year out of a mower or tractor.
     A lot of farmers’ costs, though, are fixed. Frankly, they have crops that need to be taken care of no matter what, and it’s hard to cut costs.
     Their stores also tend to be closer to permanent crops vs. non-permanent crops as well.
     Permanent: If you plant a vineyard, for example, you’re not replanting a vineyard every year. Or if you plant an almond orchard, it takes three, four, or five years to get your first harvest. Once you make that investment, you’re going to be farming off those crops for a long time.
     Non-permanent: These are things like melons, tomatoes, and corn, which you plant at the beginning of a season and harvest at the end. Then you prepare for the next season. These people don’t have it any easier, but they do have the choice to fallow ground or take a season off.
     How does Fence Post Ag specifically help farmers?
     They like to consider themselves the Amazon of farm equipment. A while back, the typical farmer in California didn’t have a place to get all of their farming needs in one central location, hence the creation of four physical locations for Valley Farm Supplies. Now they’ve been able to offer that same type of one-stop shop nationwide with Fence Post Ag, creating a convenient, user-friendly shopping experience for the farmer or consumer.
     That’s the appeal of Amazon—having all you need in one central online store. And that’s what Fence Post Ag does as well.

     Conclusion
     It’s been fun to move our discussion out west and talk about what’s going on out on the west coast. Things are rough out there for our Californian brothers and sisters, but hopefully some of the creativity from various professors and manufacturers will help them pull through.
     If you’re interested in any of the projects and companies that Vaughn and Jeffrey are involved in, check out these links:

    ValleyToolMfg.com
    ValleyFarmsSupply.com
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